College is here (or right around the corner). Now what?

Prepaid Plans work great alongside Florida Bright Futures Scholarship awards to cover even more college costs! The Florida College or State University will usually bill your Prepaid Plan first without you having to do anything.

Because your Prepaid Plan pays for the tuition and fees available under your Plan first, your Bright Futures Scholarship award will help cover any remaining costs, like lab and transportation fees, books, and housing.

For details about the Bright Futures Scholarship Program, please call 1-888-827-2004.

Yes. Prepaid Plan benefits may be used during any semester.

Absolutely! The value of your plan can be applied at an accredited, postsecondary educational institution offering credit toward a bachelor’s degree, an associate’s degree, a graduate-level or professional degree, or another recognized postsecondary degree, including certain proprietary institutions and postsecondary vocational schools. The institution must be eligible to participate in U.S. Department of Education student aid programs and must qualify under Section 529 of the Internal Revenue Code.

Need help identifying eligible institutions? Just use the Free Application for Federal Student Aid (FAFSA) Federal School Code Search.

Students planning to attend an eligible private or out-of-state institution must submit a Transfer Authorization request before benefits will be paid to a private or out-of-state school. Transfer Authorizations must be submitted online by the Account Owner or the Beneficiary. Please log in to your account at myfloridaprepaid.com/my-account, select the student, the plan you wish to authorize (e.g. 4-Year University Plan), and, then, select the red Submit Authorization button.

When Florida school rates are available at the start of each semester, then Florida Prepaid will know the benefit amount that can be paid per credit hour from your plan to the school of your choice.

It is important to note that the Transfer Form will require you to select how Florida Prepaid will make payments to your school, either Restricted or Unrestricted. Since out-of-state and private schools have different tuition rates than in-state public schools, Florida Prepaid can either pay the equivalent of the in-state public school rate to your school for the number of credit hours enrolled or pay the actual invoiced amount, up to the entire value of the plan.

Please read the options carefully, as the Unrestricted payment option can deplete your plan at a much faster rate than a Restricted payment option, since it will be paying actual invoiced amounts rather than what would have been paid to a Florida public school. Please call Customer Service if you have any further questions.

Plan benefits may be applied toward the cost of graduate-level courses. The plan will pay the average in-state undergraduate rate per credit hour for these courses. Any remaining cost will be the responsibility of the student.

We’ll make sure you stay in the know. Florida Prepaid College Plan Beneficiaries who are scheduled to start college for the first time will receive a First Time In College notification in the spring of their matriculation year. This notification will provide you some basic information about how to use Prepaid Plan benefits and explain what to expect during the college enrollment process.

Florida Colleges and State Universities

Payment is automatic as long as you let the school know that you have a Prepaid Plan. The school will bill Florida Prepaid directly each semester for the tuition and fees covered by your plan(s). Payment is issued by Florida Prepaid directly to the school.

Private and Out-Of-State Schools

Students planning to attend an eligible private or out-of-state institution must complete a Transfer Authorization request before benefits will be paid. The Transfer Authorization includes additional details about how these schools are paid.

Transfer Authorizations may be submitted directly online by the Account Owner or Student. Please log in to Account Holder Resources, choose the Plan Details tab, and click on See Usage. Or you may download the Transfer Authorization request at Forms.

Some institutions may require a Student Identification Card when you register and pay for classes. Student ID Cards are only available online, so to view or print an ID Card — log in to Account Holder Resources, choose the Plan Details tab, and click on See Usage.

One of the best things about Prepaid Plans is that they may be used at any eligible educational institution. The value of the plan purchased may be applied toward the costs at the school the student chooses to attend. For example, benefits available under a 2-Year Florida College Plan or a 4-Year Florida College Plan can be paid to a State University. Similarly, benefits available for a 4-Year Florida University Plan or a 1-Year Florida University Plan can be paid to a Florida College.Please keep in mind, in the first example above, that Florida College Plan benefits paid to a State University will deplete at a faster rate because the cost per credit hour at a State University is generally higher that the cost of a credit hour at a Florida College. The student will be responsible for any difference not covered by their plan.

Your Dormitory Plan covers the cost of a standard, double occupancy, air-conditioned dormitory room at any of Florida’s 12 State Universities. Please know, options and availability can vary from school to school, and the plan does not guarantee placement in a dorm room. Fortunately, the amount covered by this plan can be applied to other university-held housing, including some fraternity and sorority housing, or dormitory housing costs at institutions nationwide. This plan does not cover other expenses that may be associated with a dormitory, such as meal plans. For more information on Dormitory Plan coverage, please visit University Dormitory Plan FAQs.

We’re always here to help you. So although Dormitory Plans are not designed to be used during summer semesters, because rates are significantly lower than during the fall and spring semesters, they can be used during the summer semesters upon request – please contact 1.800.552.GRAD (4723) for more information.

The plan will pay the amount otherwise paid for an approved dormitory to any eligible university-held residence, including a fraternity or sorority that is university-held. The amount paid may not exceed the cost of dormitory fees covered by the plan at the institution. The student will be responsible for any amount not covered by their plan.The plan will also transfer funds to either a state college that directly operates one or more dormitory residences or to a state college direct-support organization (DSO) that operates dormitory residences. The plan will pay either the fees charged by the state college or DSO, or the maximum fees charged for state university dormitory residence, whichever is less. The student will be responsible for any amount not covered by their plan.

A Dormitory Plan may not be used for privately owned housing or apartments. However, the Account Owner may request a refund for the basis of unused Dormitory Plan benefits.

No need to worry. If the student applies for housing by the deadline set forth at their school, but does not receive a room assignment, the Account Owner may request a refund. This refund will be equal to the amount otherwise paid for an approved dormitory at the institution. If a student elects to attend a college or university that does not offer dormitory or university-held housing, the Account Owner may request a refund for the basis of unused Dormitory Plan benefits.

Students and Account Owners alike can create their own login to keep track of important benefits information throughout the year, including where benefits are being used and how many credit hours are still available. To create your account, please visit Account Holder Resources today.

Yes. A 1099Q tax form will be provided in January of each year to Beneficiaries who have used their Prepaid Plan benefits during the previous calendar year, as well as to Account Owners who have received a scholarship refund or reimbursement during the previous calendar year.If you have elected for electronic delivery, 1099Q forms will be available online at Account Holder Resources, under the Your Documents tab. Otherwise, a 1099Q will be mailed.

For specific information regarding the 1099Q, please consult a professional tax consultant or certified public accountant.

To learn more about using Florida Prepaid College Plan benefits, please email us at [email protected] or contact us at 1-800-552-GRAD (4723), Monday through Friday, 8:00 a.m. to 6:00 p.m. ET.